In Short-Run Equilibrium in Perfect Competition

question 202

Multiple Choice

In short-run equilibrium in perfect competition,

• A)each firm's profit is measured by P - ATC
• B)each firm's profit is measured by ATC - P
• C)each firm's (economic)profit is positive
• D)the amount sold by existing firms at the market price is exactly equal to the quantity consumers demand at that price
• E)no firm wishes to enter the market

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